Making the Market: Victorian Origins of Corporate Capitalism

Corporate capitalism was invented in nineteenth century Britain most of the market institutions that we take for granted today limited companies, shares, stock markets, accountants, financial newspapers were Victorian creations So were the moral codes, the behavioural assumptions, the rules of thumb and the unspoken agreements that made this market structure work ThCorporate capitalism was invented in nineteenth century Britain most of the market institutions that we take for granted today limited companies, shares, stock markets, accountants, financial newspapers were Victorian creations So were the moral codes, the behavioural assumptions, the rules of thumb and the unspoken agreements that made this market structure work This innovative study provides the first integrated analysis of the origin of these formative capitalist institutions, and reveals why they were conceived and how they were constructed It explores the moral, economic and legal assumptions that supported this formal institutional structure, and which continue to shape the corporate economy of today Tracing the institutional growth of the corporate economy in Victorian Britain and demonstrating that many of the perceived problems of modern capitalism financial fraud, reckless speculation, excessive remuneration have clear historical precedents, this is a major contribution to the economic history of modern Britain.

Making the Market Victorian Origins of Corporate Capitalism Corporate capitalism was invented in nineteenth century Britain most of the market institutions that we take for granted today limited companies shares stock markets accountants financial newspape

An academic book on the Victorian origins of today's ubiquitous Corporation is destined to draw a limited readership. Pity, for Paul Johnson has delivered a concise and thought-provoking work that challenges some of the assumptions – both academic and conventional wisdom – that underpin many observers' views of corporations today. On the one hand, economists who have long hypothesized about corporate behaviour and rational markets will pause as they reflect on Johnson's contention that the e [...]